Wednesday, 2 April 2008

India introduces rice export ban

The Indian government has banned the export of non-basmati rice to try and control soaring domestic food costs. The decision, one of a series of measures to curb inflation, was taken during an emergency cabinet meeting. Traders say rice prices rose by 10% last year,

The price for exports of aromatic basmati rice has also been raised to $1,200 per tonne to discourage exports. The move could have an impact on rice prices globally as the country is the third largest exporter of the grain - a staple food in many countries.

Also, a good article and video from the BBC News site on the global rise of food prices.


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